Fluoropolymer Films Market Trends

Statistics for the 2023 & 2024 Fluoropolymer Films market trends, created by Mordor Intelligence™ Industry Reports. Fluoropolymer Films trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Fluoropolymer Films Industry

Electronics and Semiconductor Industry is Expected to be the Fastest Growing End-user Industry

  • The semiconductor industry is one of the early adopters of fluoropolymers for the manufacturing of semiconductors. Fluoropolymers help to achieve the purity required in the production of microchips and other electronics due to their property of resistance to purity required in the production of microchips and other electronics.
  • Due to superior chemical resistance, fluoropolymers improve the functionality, reliability, and lifespan of ever-smaller microprocessors and other electrical components. PerfluoroalkoxyAlkane (PFA), a type of fluoropolymer, is melt-processable. This means PFA can be heated to melt and later can be shaped through injection molding or blow molding.
  • The electronics industry is continuously making remarkable progress and development. The production of cellular phones, portable computing devices, gaming systems, and other personal electronic devices will continue to spark the demand for electronic components.
  • According to World Semiconductor Trade Statistics, the global semiconductor market was estimated to be USD 580 billion in 2022, registering a growth rate of 4.4% year on year. The global semiconductor market size accounted for USD 555.89 billion in 2021, registering a growth of 26.23% compared to USD 440.39 billion in 2020.
  • According to the Semiconductor Industry Association (SIA), global semiconductor sales in the year 2022 rose by 3.2% despite the slowdown in the second half of the year caused to the economic slowdown and inflation.
  • According to the Japan Electronics and Information Technology Industries Association (JEITA), the production by the global electronics and IT industry was estimated at USD 3,436.8 billion in 2022, registering a growth rate of 1% year on year, compared to USD 3,360.2 billion in 2021. Moreover, the industry is expected to reach USD 3,436.8 billion, with a growth rate of 3% year on year, by 2023.
  • Hence, these factors will help to boost the market growth of fluoropolymers films over the forecast period.
Fluoropolymer Films Market: Semiconductor Market Size, in USD Billion, Global, 2018-2022

Asia-Pacific to Dominate the Market

  • The demand for electronics products in the Asia-Pacific region majorly comes from China, India, and Japan. Furthermore, China is a strong, favorable market for electronics producers, owing to the country's low labor cost and flexible policies.
  • The electronics and electrical market increased by 13% in 2022 as compared to 2021, when the market saw a 10% rise. The estimated growth rate for 2023 is 7%. China's market is the largest in the world, even larger than the combined markets of all industrialized countries.
  • India launched a comprehensive program for the development of semiconductors and display manufacturing ecosystems in the country. The government announced an outlay of INR 76,000 crore (USD 10 billion).
  • Fiscal support of 50% of the project cost is provided by the government to set up display fabs and semiconductor fabs, and fiscal support of 50% of capital expenditure for compound semiconductors fab.
  • Japan, on the other hand, in November 2022 announced that it would be investing JPY 70 billion (USD 500 million) in the joint venture between Sony Group Corp and NEC Corp to establish the country as a production hub for advanced chips.
  • According to Organisation Internationale des Constructeurs d'Automobiles (OICA), automotive production in the region reached 50,020,793 units in 2022, increasing by 7% from 46,768,800 units produced in 2021. China was the largest producer in 2022, followed by Japan, India, and South Korea.
  • Furthermore, in the first nine months of 2022, Indian passenger car sales remained strong due to the accumulation of savings, coupled with lower interest rates and an increasing preference for personal mobility, which convinced customers to buy new cars. As a result, new car registrations in India grew by around 20.2% in the first three quarters of 2022 to reach 2.8 million units. Also, Government reforms such as "Aatma Nirbhar Bharat" and "Make in India" programs supported the automotive industry in the country.
  • Hence, such trends in various countries of the Asia-Pacific will drive market growth during the forecast period.
Fluoropolymer Films Market - Growth Rate by Region

Fluoropolymer Films Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)